慕詩國際集團有限公司 (Incorporated in the Cayman Islands with Limited Liability) (Stock Code: 130)

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. MOISELLE INTERNATIONAL HOLDINGS LIMITED 慕詩國際集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 130) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2021 ANNUAL RESULTS The board of directors (the “Board”) of Moiselle International Holdings Limited (the “Company”) announces that the consolidated results of the Company and its subsidiaries (the “Group”) for the year ended 31 March 2021 (the “Year”) with comparative figures for the previous corresponding year are as follows: CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 NOTES HK$’000 HK$’000 Revenue 3 127,283 191,604 Cost of sales (40,378) (44,571) Gross profit 86,905 147,033 Other income 4 32,605 7,105 Other gains and losses 5 11,787 (2,730) Distribution and selling expenses (102,158) (204,879) Administrative and other operating expenses (58,217) (65,663) Loss from operations (29,078) (119,134) Gain (loss) on changes in fair value of investment properties 14,319 (25,425) Finance costs (4,838) (4,824) Loss before taxation (19,597) (149,383) Income tax (expense) credit 6 (3,608) 2,917 Loss for the year (23,205) (146,466) 1 2021 2020 NOTES HK$’000 HK$’000 Other comprehensive income (expense) Item that will not be reclassified to profit or loss: Gain (loss) on revaluation of land and buildings held for own use 23,819 (8,547) Item that may be reclassified subsequently to profit or loss: Exchange differences arising on translation of foreign operations 803 2,901 24,622 (5,646) Total comprehensive income (expense) for the year 1,417 (152,112) Loss for the year attributable to: Owners of the Company (22,751) (146,694) Non-controlling interests (454) 228 (23,205) (146,466) Total comprehensive income (expense) attributable to: Owners of the Company 1,871 (152,340) Non-controlling interests (454) 228 1,417 (152,112) Loss per share Basic (HK dollars) 7 (0.08) (0.51) 2 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2021 2021 2020 NOTES HK$’000 HK$’000 Non-current assets Investment properties 297,783 259,598 Property, plant and equipment 379,353 371,727 Right-of-use assets 33,858 23,803 Deposits paid 5,240 24,714 Deferred tax assets 351 566 716,585 680,408 Current assets Inventories 39,270 54,862 Trade and other receivables 9 32,741 27,205 Bank balances and cash 17,567 31,829 89,578 113,896 Current liabilities Trade and other payables 10 31,500 42,954 Lease liabilities 61,467 61,593 Tax payable 110 119 Borrowings 53,543 34,080 146,620 138,746 Net current liabilities (57,042) (24,850) Total assets less current liabilities 659,543 655,558 Non-current liabilities Lease liabilities 19,920 27,067 Deferred tax liabilities 107,668 97,953 127,588 125,020 Net assets 531,955 530,538 Capital and reserves Share capital 2,880 2,880 Reserves 530,049 528,178 Equity attributable to owners of the Company 532,929 531,058 Non-controlling interests (974) (520) Total equity 531,955 530,538 3 Notes: 1. GENERAL AND BASIS OF PREPARATION Moiselle International Holdings Limited (the “Company”; and its subsidiaries collectively referred to as the “Group”) is an exempted company incorporated in the Cayman Islands with limited liability under the Companies Law, Chapter 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands and its shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited. Its ultimate holding company is Super Result Consultants Limited (“Super Result”), a limited company incorporated in the British Virgin Islands. Mr. Chan Yum Kit, the chairman and executive director of the Company, and Ms. Tsui How Kiu, Shirley, executive director of the Company, each holds 46.7% equity interest in Super Result. The addresses of the registered office and principal place of business of the Company are disclosed in the section of Corporate Information in the Company’s annual report. The consolidated financial statements are presented in Hong Kong dollars, which is also the functional currency of the Company. The financial information set out in this announcement does not constitute the Group’s consolidated financial statements for the year ended 31 March 2021, but is derived from the consolidated financial statements. The consolidated financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards, which collective term includes all applicable individual Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards (“HKASs”) and Interpretations issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”), accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. The consolidated financial statements also comply with the applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The measurement basis used in the preparation of the consolidated financial statements is the historical cost basis except that the following assets are stated at their fair value: – investment properties; and – land and buildings held for own use. In preparing the consolidated financial statements, the Directors have given careful consideration to the future liquidity of the Group in light of the fact that the Group’s current liabilities exceeded its current assets by approximately HK$57,042,000 as at 31 March 2021. For the year ended 31 March 2021, the Group generated operating cash flows of approximately HK$10,361,000. As at 31 March 2021, total cash and cash equivalents of approximately HK$17,567,000 were held by the Group and unutilised bank facilities amounted to approximately HK$31,963,000 were available. On 18 June 2021, the Group entered into a provisional agreement with an independent third party for disposal of land and buildings held for own use in Hong Kong at a consideration of HK$30,000,000 (the “Agreement”) and received a deposit of HK$1,500,000. The Directors expects the sale proceeds of HK$28,500,000 will be received on or before 18 August 2021 in accordance with the terms as specified in the Agreement. A gain on disposal of property, plant and equipment of HK$143,000 will be recognised accordingly. Based on the aforesaid factors and cash flow forecast for the coming twelve months, the Directors are satisfied that the Group will have sufficient financial resources to meet in full its financial obligations as and when they fall due for the foreseeable future. Accordingly, the consolidated financial statements have been prepared on a going concern basis. 4 2. APPLICATION OF NEW AND AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) Application of amendments to HKFRSs In the current year, the Group has applied the Amendments to References to the Conceptual Framework in HKFRS Standards and the following amendments to HKFRSs issued by the HKICPA, for the first time, which are mandatorily effective for the annual period beginning on or after 1 April 2020 for the preparation of the consolidated financial statements: Amendments to HKAS 1 and HKAS 8 Definition of Material Amendments to HKFRS 3 Definition of a Business Amendments to HKFRS 9, HKAS 39 and HKFRS 7 Interest Rate Benchmark Reform In addition, the Group has early applied the Amendment to HKFRS 16 “Covid-19-Related Rent Concessions” and Amendment to HKFRS 16 “Covid-19-Related Rent Concessions beyond 30 June 2021. Except as described below, the application of the Amendments to References to the Conceptual Framework in HKFRS Standards and the amendments to HKFRSs in the current year had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in these consolidated financial statements. Impacts on early application of Amendment to HKFRS 16 “Covid-19-Related Rent Concessions” and Amendment to HKFRS 16 “Covid-19-Related Rent Concessions beyond 30 June 2021 The Group has applied these amendments for the first time in the current year. These amendments introduce a new practical expedient for lessees to elect not to assess whether a Covid-19-related rent concession is a lease modification. The practical expedient only applies to rent concessions occurring as a direct consequence of the Covid-19 that meets all of the following conditions: • the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change; • any reduction in lease payments affects only payments originally due on or before 30 June 2022; and • there is no substantive change to other terms and conditions of the lease. A lessee applying the practical expedient accounts for changes in lease payments resulting from rent concessions the same way it would account for the changes applying HKFRS 16 “Leases” if the changes were not a lease modification. Forgiveness or waiver of lease payments are accounted for as variable lease payments. The related lease liabilities are adjusted to reflect the amounts forgiven or waived with a corresponding adjustment recognised in the profit or loss in the period in which the event occurs. 5 3. REVENUE AND SEGMENT INFORMATION Revenue The Group generated sales of fashion apparel and accessories with customers through its own retail stores.

Load more